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IEV AWARDED TWO FREE SPAN CORRECTION PROJECTS

APRIL 2013:  IEV International Limited, a wholly owned subsidiary of IEV Holdings Limited, in association with FoundOcean Limited, was awarded two free span correction contracts for installation of pipeline supports in China and Myanmar respectively.

The first project is located  approximately 300 km South of Hong Kong, China, where IEV shall  provide grout bags for free span correction service at a  water depth of up to 1500m.  The second project involves the installation of ROV-deployed grout bags for the Zawtika field offshore Myanmar. Both projects are expected to be completed in 2Q2013.